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The monopolistic competitor is a: Price searcher. P > MR, and the marginal revenue curve lies below the demand curve. The highest price per unit for the output MR = MC at Q so price is consistent with P. |
The monopolistic competitor is a | O a. firm that faces a horizontal demand curve. O...
The demand curve for the product of a monopolistic competitor is a. horizontal b. downward sloping c. unitary elastic d. vertical Which of the following is NOT a characteristic of monopolistic competition? a. barriers to entry into the market b. a significant number of sellers c. product differentiation d. advertising IN MICROECONOMICS
Suppose a monopolistic competitor faces the following costs and demand in the short run: Part 1 (1 point) What is the amount of profit this monopolistic competitor will make in the short run? Part 2 (4 points) Since this is a monopolistic competitor, the number of firms competing in the long run will(a) , leading the profits for this firm to (b) If this were a monopoly instead, we would expect the number of firms to (c) and profits to (d)
A price searcher Select one: O a. is a seller that has the ability to control to some degree the price of the product itsells O b. faces a horizontal demand curve o c . is a seller that searches for the best location to sell its product. d. is a seller that searches for good employees and pays them a low wage. ous page MacBook Air * oð A SOON
2. (Figure: Costs and Demand for a Monopolistic Competitor) Price $15.00 --- --- $10.00 --- - AC --- -- I mre -- Demand curve facing each firm, de Quantity 32 4 250 a)- The profit-maximizing amount of output produced will be: b) - What price should the firm charge? c) - The total cost of producing the profit-maximizing output is: d) - The profits for the firm are:
Does a monopolistic competitor face a inelastic demand curve or an elastic demand curve, a unit elastic demand curve or perfectly elastic demand curve.
Question 5 A price searcher Not yet answered Points out of 1.00 Select one: O a. is a seller that has the ability to control to some degree the price of the product itsells. b. faces a horizontal demand curve. P Flag question c. is a seller that searches for the best location to sell its product. . is a seller that searches for good employees and pays them a low wage. o d Previous page Next MacBook Air
Please answer both of the following questions: QUESTION 2 A firm that faces a downward sloping demand curve is O a price provider. O a price searcher. O a price creator. O a price taker. QUESTION 3 Quantity Price $19 18 16 Given the data in the above table, what is the marginal revenue when the 12th unit is sold? $1.00 $3.00 $5.00 $7.00
Figure 01. Cost and Demand for a Monopolistic Competitor Price $15.00 --- $10.00 --- — АС MC Imre 11 Demand curve facing each firm, de 324250 Quantity Question 02. Using Figure 01, the total cost of producing the profit-maximizing output for each firm is: A. $320. B. $480 C. $420 D. $500 Question 03. Using Figure 01, the profits at the profit-maximizing output for each firm is: A. $320. B. $480 C. $160. D. $420. Question 04. Suppose that at...
The major difference between monopolistic competition and monopoly is A. only a firm in monopolistic competition can earn an economic profit in the short run. B. only firms in monopolistic competition are protected by barriers to entryC. only a monopoly can earn an economic profit in the long run. D. how the quantity of output is determined. E. monopoly is a price setter and a firm in monopolistic competition is a price taker.In the long run, firms in monopolistic competition earn zero economic profit...
When compared to a monopolistic firm’s demand curve, a monopolists demand curve is relatively a. Inelastic because of many substitutes. b. Elastic because of many substitutes c. Inelastic because of less substitutes d. Elastic